Florida Statutes 717.129 – Periods of limitation
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Terms Used In Florida Statutes 717.129
- Contract: A legal written agreement that becomes binding when signed.
- Department: means the Department of Financial Services. See Florida Statutes 717.101
- Holder: means a person, wherever organized or domiciled, who is:(a) In possession of property belonging to another;(b) A trustee in case of a trust; or(c) Indebted to another on an obligation. See Florida Statutes 717.101
- Statute: A law passed by a legislature.
(1) The expiration before or after July 1, 1987, of any period of time specified by contract, statute, or court order, during which a claim for money or property may be made or during which an action or proceeding may be commenced or enforced to obtain payment of a claim for money or to recover property, does not prevent the money or property from being presumed unclaimed or affect any duty to file a report or to pay or deliver unclaimed property to the department as required by this chapter.(2) No action or proceeding may be commenced by the department with respect to any duty of a holder under this chapter more than 10 years after the duty arose.